0831 GMT - The delayed rollout of an advanced Siri integrated into Apple Intelligence will likely moderate iPhone upgrades next year, Morgan Stanley analysts write in a note. Additionally, Apple could face some degree of higher input costs due to incremental tariff costs on China, the analysts says. "Without a 'killer AI app' in market ahead of the iPhone 17 launch, we don't see AI features contributing to accelerating upgrade rates as meaningfully as we did previously," they add. Therefore, the U.S. bank sees 2026 revenue and earnings per share 5%-6% lower, with $436 billion of revenue and $8 of EPS, 1%-2% below consensus. Shares closed 2.9% lower at $220.84. (najat.kantouar@wsj.com)
(END) Dow Jones Newswires
March 12, 2025 04:31 ET (08:31 GMT)
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